20 Mar 2017

A Fund Struggles and I Can’t Look Away

There are a fair number of reasonably well known investors that I keep my eye on even though I know that we won’t ever invest in their funds.  One of the most fascinating investors in my opinion is Bruce Berkowitz, manager of the Fairholme Fund (ticker: FAIRX). Berkowitz caught my attention at an investment conference bank shortly after the 2008 financial crisis because he had a booth that was swarmed… Read More

13 Mar 2017

Meet the Fed’s FOMC

The Federal Reserve will obviously be in focus this week and we talk about the Fed and its members a lot and I suspect that not everyone quite knows how the Fed works.  Today is a quick primer. The Federal Reserve System was created by the Federal Reserve Act in 1913 to serve as a formal lender of last resort to banks during panics and times of a liquidity crisis…. Read More

2 Mar 2017

What About The Bonds?

Almost all of the focus on the Federal Reserve lately has been concentrated on the future path for the fed funds target rate. After the false start in December of 2015, the FOMC hiked rates again in December of last year and now stands poised to actually turn things into a steady campaign of rate hikes. However, the other piece of their emergency level of monetary policy accommodation – the… Read More